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Source: Socialist Republic of Vietnam

The new company, with charter capital of VND3 trillion (US$130.1 million), will be headquartered in Hanoi and come into existence on February 20 next year.

The main functions of the Vietnam Stock Exchange, abbreviated as VNX, will be devising five-year strategies, formulating listing and trading regulations, and monitoring HNX and HOSE.

It will also be tasked with supporting the development of the stock market and promoting cooperation with foreign stock exchanges and international organisations on security.

Under the Prime Minister’s decision, specific functions will also be assigned to the two stock exchanges in Hanoi and Ho Chi Minh City.

HNX will be responsible for operating the derivatives market, the bond market and the market for other securities, while HOSE will manage the market for trading shares and other securities.

The two exchanges will also share some other functions such as monitoring stock trading; monitoring information disclosure of listed companies; suspending the trading of stocks with abnormal trading volumes; and approving, changing and removing stock listings, among others.

MIL OSI Asia Pacific News